TORONTO – The Toronto stock market hit a new post-recession high as a solid, across-the-board rally accelerated throughout the day.

The S&P/TSX composite index added 195.47 points to close at 13,148.35 — nearly 100 points higher than the previous post-recession high of 13,052 on Nov. 8 — with all of the main indexes in positive territory.

The Canadian dollar was up 0.92 of a cent at 98.32 cents US as other global currencies also made strides against the U.S. dollar.

The January crude contract was up $2.64 at US$86.75 a barrel on the New York Mercantile Exchange, while the December gold contract on the Nymex gained $2.30 to US$1,387.30 an ounce.

The TSX, like other global markets, is starting the month on a strong note as investors put aside fears about government debt problems in Europe and focus on positive economic data.

U.S. stocks also made massive strides. The Dow Jones industrial average was up 249.76 points at 11,255.78 and the Nasdaq composite index added 51.20 points to 2,549.43. The S&P 500 moved 25.52 points higher to 1,206.07.